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U.S. Stocks Close Mostly Higher Following Inflation Data, Fed Announcement

After an early rally on tamer than expected consumer price inflation data, stocks saw some volatility following the Federal Reserve’s monetary policy announcement but still managed to end Wednesday’s trading mostly higher.

The Nasdaq led the charge, surging 264.89 points or 1.5 percent to a new record closing high of 17,608.44. The S&P 500 also reached a new record closing high, jumping 45.71 points or 0.9 percent to 5,421.03.

Meanwhile, the narrower Dow gave back ground after an early upward move and eventually ended the day down 35.21 points or 0.1 percent at 38,712.21.

The early rally on Wall Street came following the release of a Labor Department report showing U.S. consumer […]